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Minyan Mailbag: Technical Analysis 101




I'm new to Minyanville and I just wanted to say everything is great. I don't know much about technicals, so I was wondering if you could refer me to some reading material?

I realize you are busy and most likely don't have time to email me back.
If you could do a post about technical analysis, I would greatly appreciate it.

Minyan Matt

MM -

If you want the "bible," there is always "Technical Analysis of Stock Trends" by Edwards and Magee. It's more of a textbook, but most everything technical is in there.

I would recommend "Come Into My Trading Room" by Alex Elder. He has a very practical technical approach to the markets which I think work well.

I would also heartily recommend "Practical Speculation" by Victor Niederhoffer and Laurel Kenner. It is not a technical analysis book per se (in fact, he disputes many traditional indicators), but there are a treasure trove of nuggets in the book and it's a great thought-provoker.

On a side note, I would highly suggest not getting too wrapped up in trying to find the very best indicator out there, or spending too much time making sure that you draw your trend lines just right. My suggestion would be to find a few simple ideas that fit well with your temperament, and concentrate on developing those into a practical system for risking your capital.

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